Trends

Income and productivity: East Germany barely catches up

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Events

4/28/2014

Research Seminar 'Creditor Seniority in Europe’s Sovereign Debt Crisis'

Prof Frank Westermann, Ph.D., University of Osnabrück
2:15 - 3:45 pm, IWH, conference room

The share of public debt that is held by lenders with preferred creditor status (e.g. the IMF, ECB, ESM) has increased substantially during Europe's sovereign debt crisis. Empirically, we document in both, macro and survey data that there exists a close relationship between the increase in senior tranche lending and the interest rates of countries in crisis. [...] read more


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IWH - Kleine Märkerstraße - Halle


News        

4/22/2014 Discussion Papers 5/2014

On the Stability of Preferences: Repercussions of Entrepreneurship on Risk Attitudes

The majority of empirical studies make use of the assumption of stable preferences in searching for a relationship between risk attitude and the decision to become and stay an entrepreneur. Yet empirical evidence on this relationship is limited. In this paper, we show that entry into entrepreneurship itself plays a decisive role in shaping risk preferences.

In the Institute’s Discussion Papers, individual authors present the results of their academically oriented research. More Discussion Papers may be downloaded here for free.

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4/10/2014 Joint Economic Forecast Spring 2014

Upturn in German Economy, but Economic Policy Creates Headwind (Press Summary)

The German economy is experiencing an upturn in spring 2014. Gross domestic product (GDP) is expected to grow by 1.9 percent this year. The 68 percent projection interval ranges from 1.2 percent to 2.6 percent. Domestic demand is the main driver of growth. Consumer prices will increase by a moderate 1.3 percent in 2014. The number of persons in employment looks set to rise steeply once again in 2014. Economic activity, however, will have to weather an economic policy headwind. The entitlement to a full pension as of 63 years is a step in the wrong direction and the introduction of the minimum wage will curb the rise in employment in 2015.



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4/2/2014 Discussion Papers 4/2014

Outperforming IMF Forecasts by the Use of Leading Indicators

This study analyzes the performance of the IMF World Economic Outlook forecasts for world output and the aggregates of both the advanced economies and the emerging and developing economies. With a focus on the forecast for the current and the next year, we examine whether IMF forecasts can be improved by using leading indicators with monthly updates.

In the Institute's Discussion Papers, individual authors present the results of their academically oriented research. More Discussion Papers may be downloaded here for free.

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3/28/2014 Discussion Papers 3/2014

Fiscal Equalization, Tax Salience, and Tax Competition

Jurisdictions that engage in inter-regional tax competition usually try to attenuate competitive pressures by substituting salient tax instruments with hidden ones. On this effect, we investigate the efficiency consequences of inter-regional tax competition and fiscal equalization in a federal system when taxpayers fail to optimally react on shrouded attributes of local tax policy.

In the Institute's Discussion Papers, individual authors present the results of their academically oriented research. More Discussion Papers may be downloaded here for free.

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